#Memecoin Dominate Cryptocurrency Open Interest Charts

Memecoins dominate the cryptocurrency open interest charts, with Pepe, WIF, DOGE, and BONK occupying 4 of the top 10 spots.

The memecoin frenzy has been the buzz of the crypto community this bull season. Pepe and WIF have broken into the top 20 cryptocurrencies by market capitalization a year after their public launch.

These memecoins have gained significant traction in the cryptocurrency leverage market, where traders short or long their prices.

Four of the top 10 cryptocurrencies by open interest (OI) are memecoins: $PEPE leads with $812.6 million in OI, and $SOL follows with $1.7 billion in OI.

In addition to Pepe, $DOGE Bonk (BONK) and Dogwifhat (WIF) are also in the top 10.

The recent OI surge for memecoins comes from its bullish momentum over the past two weeks, when Pepe hit a new all-time high, while WIF hit a new multi-week high above $3.30.